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at wus ashgs a 9.com. >>> in the mail bag tonight, president obama's plan to avoid that fiscal cliff. in his news conference today, the president said the one thing he will not do is preserve tax cuts for people who make more than a quarter million bucks a year. craig writes now is not the time for the president to draw lines in the sand. mr. obama, compromise involves you suggest a higher number. you move up and they move down until both sides reach agreement. compromise. i wonder about that as well. i know the president wants to walk the line. i'm glad he also said that he's open to other ideas as long as the numbers add up. and then there was this from alfred. is the president aware if he raises the tax rate on capitol gains, dividends and interest, he will raise taxes on the middle class? they are the ones who have invested in america and retirees and those making less than $250,000 annually who depend on those returns to supplement their income. it is a decent point. from what i can determine, the president's plan would raise the gains rate from 15% to 20%. the whole idea being
about america's fiscal cliff. president obama will address it head on today. we'll tell you what it means for your money. >>> tuesday's vote makes marijuana legal in colorado where nfl superstar peyton manning just invested in over two dozen pizza restaurants. >>> and newly released video of a suspected killer stealing and crashing a plane. the gruesome details ahead. >> announcer: this is "early today" for friday, november 9th, 2012. >>> good morning, everyone. i'm lynn berry, and today the focus is back to washington and whether the white house and congress can put aside campaign bitterness to reach a deal avoiding the so-called fiscal cliff. last night house speaker john boehner said he's optimistic about an agreement telling abc's diane sawer he's the most reasonable responsible person in washington but he's also not backing off his stand on tax hikes. >> raising taxes on small business people is the wrong prescription given where our economy is. >> is it on the table to talk about. >> i made clear yesterday that raising tax rates is unacceptable. frankly, it couldn't even pa
obama talking to the nation the first time since he won the election. what will we do about the fiscal cliff. we have already heard from the speaker of the house. basically saying the ball is in the president court now. dennis kneale and cheryl casone are coming up next. that is all coming up. don't go away. ♪ dennis: dennis kneale. cheryl: i am cheryl casone. the worst week for stocks in half a year. the dow flatly positive, consumer sentiment rising to a more than five year high. dennis: washington obstinate over fixing the fiscal clip getting much of the blame. and we will hear from president obama in a little over an hour. cheryl: gasoline rationing, 11 days after superstorm sandy and no end in sight at this point. sandra smith standing by on the floor. sandra: good afternoon. we are looking at the dow down 43 points. the nasdaq and s&p 500, on a higher percentage point. maybe you haven't heard of this, but the international game technology company that makes slot machines and based out of las vegas reported great profits, better than expected on strong sales of slot machines but
obama to avoid the fiscal cliff that would affect all of us. speaker boehner continues to insist raising taxes is out of the question. >>> traffic and weather together, next. >> let's take a live look outside, gonna be chilly, meteorologist mike nicco will have your full forecast and we also check in with sue hall.afi >>> 80 homes damaged, to people killed, the cause still unknown. what is next in indiana, after that mysterious blast >>> beautiful picture wanted to show you the gorgeous colors this morning isn't that tremendous as we look southeast. high clouds not as cold as it was over the weekend, still seeing 30s especially in the east bay and north bay valleys and around los gatos. low to mid 40s san francisco]6Ñ÷ in the afternoon 50s coast low to mid 50s the rest of us best thursday. >>> if you have to come to san francisco, great morning to do it, pretty, chilly, light at the bay bridge toll, no issues, into metering lights no problems upper deck light out of novato through central san rafael past freitas parkway to north san pedro road past civic center moving at limit couple
right now with president obama talking about the fiscal cliff, talking about ways to get the deficit and debt situation in this country in order. as soon as those ceos start coming out, they include the ceo of honeywell, ibm, a number of ceos in industrial businesses. of course, the only financial services representation there is american express. no other bank was invited to this meeting. as soon as these guys and gals start walking out, we'll bring you some interviews with them. president obama held a press conference meanwhile today on everything from the fiscal cliff to the sex scandal involving former cia director david petraeus and the embassy attack in libya. eamon javers is in washington right now. he has the highlights. >> hi, maria. no specific olive branch here from the president during the press conference to republicans in terms of the fiscal cliff negotiations. the president twice now referencing his own re-election, suggesting the american people voted here for a very specific set of outcomes. take a listen. >> if there's one thing that i'm pretty confident about, it's
. >> president obama is urging congress to act to avert this fiscal cliff. he is planning to meet with leaders of both parties in the white house next week. >> here is a look at some of our other top stories at this hour. cia director david petraeus has resigned to night because of an extramarital affair. in his letter of resignation, he said he asked president obama for permission to step down, saying his behavior was unacceptable as a husband and an official. president obama did accept the resignation. he said the four-star general has made our country safer and stronger. transportation officials have confirmed that they are investigating theft and misconduct by transportation department personnel. an extensive investigation has revealed employees received more than $58,000 in scrap metal proceeds over a period of five months. right now, three supervisors have been suspended without pay and a dozen employees are recommended for termination. crews continue their work to night to repair the 60 inch water main that broke a 28 and charles street -- at twentieth and charles street in midtown. cre
fiscal cliff. >> reporter: well, president obama began his remarks saying now that the campaign is over, it's time to get back to work and there is a lot of work to do. but will there be consensus on capitol hill and will it all happen in time to avoid this fiscal cliff especially when both sides are still drawing battle lines. the speech lased eight minutes. >> on tuesday they said loud and clear that they won't tolerate dysfunction, they won't tolerate politicians who view a dirty word. >> 2013 should be the year we begin to solve our vet through tax form and entitlement reform. i'm proposing there will be a birth of fiscal cliff in a manner that ensures that 2013 is finally the clear that our government comes to grips with the major problems that are facing us us. >> i refuse to accept any approach that isn't balanced. i'm not gonna ask students and seniors and middle-class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. [ applause ] >> i'm not gonna do that. >> reporter: the deadline is fast approaching and
, the fiscal cliff, jobs, china, education, they could define president obama's legacy and maybe immigration reform too. let's start at the top of that list. the most pressing issue, the fiscal cliff. you've seen the big picture, potentially the larges tax increase in history. here's what you will feel. your household tax bill will increase by $3500 on average. that's according to the nonpartisan tax policy center. $55 billion would be cut from defense spending. that will likely mean job cuts, slower production, not good for those connected to the defense industry. another $55 billion would be cut from things like education, food inspections and air travel. we've assembled cnn's best to pore over this. ali velshi, host of "your money" at 1:00 p.m. eastern. jessica yellin is the white house correspondent. lisa is the capitol hill correspondent for cnn radio. ali, you and i have been yelling from the rooftops about the fiscal cliff for months. the election is now out of the way so the rest of the world is beginning to get how serious this is. so people are now aware that deep cuts are coming a
romans. president obama won four more years. now it's about his legacy. standing in his way, an unnecessary fiscal disaster, the struggling labor market, a global economy that's slowing and the uncertain future of our children and grandchildren. dear mr. president, when it comes to this country's financial future, you've got four years and 4 major tasks. first, the fiscal cliff. there's no time to waste. on january 1, taxes rise and government spending is cut, sending not just us but potentially the world back into a recession. next on the list, jobs. hiring is picking up, but we must do better. the middle class has been hit hard. its wealth fell 28% in the last decade. why? >> changes that were taking place in china. >> some emerging markets like china. >> china needs the united states. >> mostly by keeping its currency low, china can sell products for less than they're worth, making it hard for american companies to compete. that means fewer jobs and lower wages here in the u.s. we need a smart trade policy that protects american workers without hurting american businesses
. >>> president obama will work with republicans to avoid the fiscal cliff, the automatic spending cuts and tax hikes that could take effect in the start of the new year. but he's standing by his commitment to raise taxes for those making more than $250,000. >> that's something they say they will not affect. new tax hikes will hit very hard. especially on parents. jessica doyle reports they could have a tough time paying for childcare. >> reporter: it's a dilemma facing families across the country. >> reporter: the mother of three, says not being able to get that tax credit for childcare expenses could really impact her family. >> we typically get a refund and, you know, thinking that it might not be a possible for some people that do use that money at the end of the year to take care of big expenses could be very tough. >> reporter: that's why they are warning parents to plan carefully. andologist congress -- and unless congress plans to pay taxes, they will only get $500 as opposed to $1,000. >> the best thing to do is plan accordingly. >> families can also expect to lose hundreds in the amou
.s. president barack obama spent little time basking in his reelection win. white house officials and members of congress have already returned to the bargaining table. they're hoping to avert a fiscal crisis by reaching a budget deal. obama spoke with democratic and republican congressional leaders on wednesday shortly after the election. the president sought bipartisan support for deficit cuts and tax reforms to avert a so-called fiscal cliff. the combination of automatic tax increases and spending cuts could push the u.s. economy back into recession. house of representatives speaker john boehner said republicans are ready to work with the president on tax reform. many republicans want to keep tax cuts for the wealthy, but democrats are opposed. >> mr. president, the republican majority in the house stands ready to work with you to do what's best for our country. we're willing to accept new revenue under the right conditions. >> boehner said obama obama must reduce spending and overhaul entitlement programs. republicans then would be willing to back programs aimed at raising federal revenue
of your tweets throughout the day. >>> the other big story out of washington this morning, president obama says he's committed to working with congress to avoid the so-called fiscal cliff. but at the same time, the president appears to be standing his ground on tax hikes for the wealthy, as part of his plan. >> i'm not going to ask students and seniors and middle-class families to pay down the entire deficit while people like me, making over $250,000, aren't asked to pay a dime more in taxes. i'm not going to do that. >> house speaker john boehner is also standing his ground, speaking ahead of the president friday. the speaker says he remains unwilling to raise taxes on upper income earners. >> everyone wants to get our economy moving again. everyone wants to get more americans back to work again. raising tax rates will slow down our ability to create the jobs that everyone says they want. >> joining me now, white house correspondent for the hill, amie parnes and "washington post" congressional reporter ed o'keefe. hi, you guys, good to see you both. let's talk fiscal cliff with you, start
winning campaign, president obama issued a warning ahead of the coming fiscal fight with republicans. >> i refuse to accept any approach that isn't balanced. and on tuesday night we found out that the majority of americans agree with my approach. >> reporter: that approach means making the wealthy pay more in taxes. a vow the president made repeatedly in the campaign. but republican house speaker john boehner, appearing earlier in the day, said it won't happen on his watch. >> raising tax rates will slow down our ability to create the jobs that everyone says they want. >> reporter: it is the key sticking point. and if it can't be resolved by the end of the year, the nation heads over the so-called fiscal cliff. a combination of expiring tax cuts, costing the average household almost $3500 in higher taxes next year. and deep cuts to both domestic and defense spending. combined, analysts say it would mean slower economic growth, and a soaring jobless rate next year. since the election, both sides have signaled they're willing to bend. >> i'm not wedded to every detail of my plan. i'm open to
of the frederick area on 270. >> 4:32 rainout. president obama speaking about the potential impact of the fiscal cliff. virginia taking steps to prepare for a worst-case scenario. bob mcdonnell said two weeks to find ways to cut cost. >> of government -- we will have less customers and be in trouble. >> businesses are not doing too well already. >> if congress fails to act, the economy could shrink by one half percent. the unemployment rate could soar to 9.1%. >> the president got emotional while addressing campaign staffers in chicago. >> i am really proud of that. >> the campaign released a five minute video of his speech that came one day after he won reelection. >> president obama weighing replacements for several aides and cabinet members expected to leave it. the treasury secretary timothy geithner, hillary clinton, and leon panetta will leave sometime next year. >> the former democratic committee chair said he will make a second attempt to become governor of virginia. he ran for governor in 2009 but lost in the primary. the lieutenant governor is also seeking the republican nomination. >>
electoral votes to president obama's 332. >>> if you have not heard the term fiscal cliff this week, you might be living under a rock. just ahead, americans are counting on compromise on capitol hill. what may be done to save you thousands of dollars >>> and recovery efforts continue in new york and new jersey. some lawmakers are speaking out against utility companies there many the stories and much more coming up when the news at 10:00 continues. inues.  hey! hey, baby. [ starts car ] were you eating smoked sausage in here? no! no. could have gotten me one. i did. try the unmistakable flavor of dunkin' donuts' smoked sausage breakfast sandwich. it's deliciously irresistible. hurry in today. the smoked sausage breakfast sandwich is only at dunkin' donuts for a limited time. grab one today. how do you always have my favorite coffee? well, inside the brewer, there's a giant staircase. and the room is filled with all these different kinds of coffee and even hot cocoa, and you'll always find your favorite. with so many choices, keurig has everyone's favorite. and i just press this bu
conference, the looming fiscal cliff was the other big subject. president obama said he would look at reforming entitlements and stand firm on his promise to increase tax rates for high earners. chief congressional correspondent mike emanuel tonight on the prospects for some kind of compromise. >> with the u.s. economy due to hit the fiscal cliff, trillion of tax increases and spending cuts, president obama called for a catch henceive deal and said he is not going to one on the top 2%. >> we cannot afford to extend the bush tax cuts for the wealthy. we can make sure that middle class taxes don't go up. if we get that in place we are removing half of the fiscal cliff. >> speaker john boehner offered what he considers a balanced approach generating the revenue from tax reform and entitlement reform. late today, boehner said the president's position is flawed. >> we are not going to hurt our economy an make job creation more difficult. which is exactly what that plan would do. >> letter sent by the u.s. chamber of commerce and signed by 232 organizations calls on the president and con
one? the fiscal cliff and jarrad per se. by maryland may fall further than most states. >> president obama officially won reelection earlier this week without florida. now four days later, the results in the state are in. the state finally finished counting their votes today. declared president obama the winner. florida election officials say the president can read 50% of the vote. governor romney had 49.1%. the president did have enough electoral votes to win reelection tuesday night without florida but with florida, the president now officially has 332 electoral votes to romney's 206. we are learning more about the departure of cia director david petraeus. the retired general resigned after publicly admitting to an extramarital affair. >> the sudden fall of cia chief david petraeus has washington asking how and why. and the woman suddenly in the spotlight, is not saying. back in january, she was promoting her book on the general. >> he loves the agency. i think it is a great place for him. >> she is an army reserve officer in that close access to the cia director. federal agents ar
the fiscal cliff today. so far, there's not much evidence of bipartisan ship and cooperation. president obama talked about the issue in his first post-election public appearance. >> i'm not going to ask students and seniors and middle class families to pay down the entire deaf sit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> republicans say they won't budge on taxes unless democrats agree to cut the cost of social security and medicare by raising the minimum age of eligibility. the president will host a meeting with both party frs next week. >> the president's inauguration is still months away. but hotels rooms in this town are filling up fast. and rest rant reservations are awfully hard to come by. shomari stone to tell us how local businesses are cashing are. >> reporter: local businesses are cashing in and you would think the inauguration was next weekend. a lot of folks are kpielted. hotels and restaurants are booking with reservations and a lot of folks tell me they plan on going to the inauguration and some locals are cashing in with their condo
"fox & friends first". >> time for the 5@5:00. with the election in the rearview mirror president obama will have to address the looming fiscal cliff before it is too late. he will talk about his plan to avoid the economic crisis. if congress fails to reach a deal on handful of issues by the end of the year. those issues include tax breaks set to expire and 800 billion in sequestration cuts. they want those owning 250,000 a year to pay more in taxes. house speaker john boehner says tax cuts are unacceptable. >> i remain optimistic we will be able to find common ground, find a way to work together. the leblgs is over. we have to get to work. >>> the congressional budgity office issuing a warning. if a compromise is not reached by the end of the year the economy could slip back into a recession. >>> law americas might not get the answers they are looking for after all about the deadly benghazi terror attacks. congressional hearings will be closed to the public. fox news learned some of the suspects in the attack were part of an egyptian terrorist group. the network made up of violent extr
but president obama says we could avoid the fiscal cliff. i'm michelle griego. >> and the president addressed the nation, and quick action to keep all american taxes from going up on new year's day. >> cbs5 reporter cate cauguiran watched the address and is breaks it down. >> what does it really mean for everyone in california. >> reporter: there is a new report that shows the bay area's job market could grow faster than the state of california and the nation over the next two years, but our economic growth could go downhill with this looming fiscal cliff. >> right now, if congress fails to come to an agreement on an overall deficit reduction package by the end of the year, everybody's taxes will automatically go up on january 1 january 1st. everybody's. >> reporter: just hours ago the president warned lawmakers the deadline is approaching. economists say the fiscal cliff could throw the economy back into a recession. both republicans and democrats emphasize compromise. >> this is an opportunity for the president to lead. this is his moment to engage the congress and work towards a solution t
. >> president obama is going to into the fiscal cliff with a strong hand. >> i'm not set on every detail of my plan. i won't ask seniors and middle class families to pay down the entire deficit while people like me taking over $250,000 aren't asked to pay a dime more in taxes. >> the market rebounded today, but investigators worried that washington won't be able to hammer out a deal in time. all three major indexes were down more than 2% for the week. >> set transday is sunday -- veterans day is sunday. we look at a big problem they face when they come back from war, how to use their civilian skills in the -- how to use their military skills in in the civilian world. >> this is basic training like no other for this man. the business student could be an entrepreneur by sunday night. >> it's gate to see the companies in the silicon valley supporting us. >> reporter: this 3-day event going on in san francisco is hosted by vets in tech. they train veterans returning from iraq and afghanistan. >> we want to teach design, marketing, how to write a business plan, how to do a presentation. there's so
to fix the u.s. economy. with just 51 days until the so-called fiscal cliff, will president obama and congress be able to bridge the divide and find a solution? cnn's athena jones takes a closer look at what's at stake. >> it's time to get back to work. >> reporter: with the election in the rear view mirror, the focus in washington is back on efforts to avoid the economically devastating fis cat cliff. if we just go over the cliff and let those policies stake in effect, we're basically going to undo the recovery. neither party wants to be blame for that. the cliff amounts to $7 trillion in cuts and tax increases over the next decade. the threat of these painful cuts set to begin on january 1st is part of the deal the congress and the president made last year to force them to agree on a long-term deficit reduction plan. >> this is an unprecedented scenario that congress has basically put a gun to its oven head who's said if we don't act, we're going to shoot ourselves. >> so far that long-term plan hasn't materialized. the biggest chunk? the bush-era tax cuts. cuts for families mak
. >>> muchas gracias, el presidente obama se referencoba refiriÓ al precipicio fiscal que hay en el paÍs. el mandatario defendiÓ su teorÍa de subir los impuestos a los mÁs ricos y no a la clase media. >>> el escÁndalo del ex director de la cia sigue en manos de investigadores que tratan de determinar el alcance de los correos electrÓnicos. >>> en la primera conferencia de prensa despuÉs de la reelecciÓn el presidente obama fue bombardeado con preguntas sobre el escÁndalo petreus. >>> no tengo pruebas de que se haya revelado informaciÓn calificada, rechazÓ criticar al fbi por presuntamente no haberle informado del tema antes de las elecciones. >>> lo que sÍ hizo fue elogiar la labor del ex director de la cia que maÑana testifica ante un comitÉ de inteligencia sobre lo ocurrido del ataque a un consulado en libia. >>> tiene informaciÓn de eso y queremos saber. >>> presiÓn sobre quÉ pasÓ durante el ataque y cuando lo supo el presidente. >>> el senador john mccain acuÓo a obama y su embajadora de naciones unidas de no decir nada al paÍs. >>> dijo que mccain deberÍa enfrentarse
boswell reports the pressdent also discussed the looming fiscal cliff which could mean taaes will go up on almostt every ammrican family. 3 boswell says: "presidennt obama again says hh will "not" ok a deal extending tax cuts trying to avoid the uppominn - fiscal cliff. he then addressed questions onnthe grooinn sex scandal surrounning the formerrcia director and the atttck on the u-s missson in benghazi." no evidence national security scandal involving the now &p"former" ia irector davvd petraeus and the top uus. comannder in afghanistan.obama saas: "i am withholding judgment withhrespect to how the entire process surrounding top lawmakers re angry they the fbi invvstgation that led to the petraeus resignation. on congressiooal questions about adminstration tatements the deadly attack on the u-s consulate in benghhzi was a spontaneous demonstration and not a terrorist attack the president aggresively defended u-n ambassador susan rice. obama says: "if senator mccain and senator graham, and somebody, they should go aater me. 14:04:07 to besmirch er reputat
obama will finally tackle the fiscal cliff in a delivered statement. we are going to get you the details. there's been a 400-point-plus selloff since the election. we could be staring at a dividend tax and a capital gains tax hike. superstar investor ken hebner tells us how to get through this period. >>> also, american drone and international airspace days before the election and kept secret until now. is that a coincidence? >>> and on election day, voters in two states allowed recreational use of marijuana. is this the gateway to liberals legalizing rampant drug use in this country? janine turner is going to join us. >>> within the hour, word that president obama will make a statement on the fiscal cliff and the economy at 1:00 p.m. tomorrow. the congressional budget office issued a new scenario of what happens if the president and congress fail to act. eamon javers joins us now with the details. good evening, eamon. >> reporter: good evening, larry. as you say, we're getting news tonight we're going to get dueling appearances tomorrow between speaker john boehner and president barack
ceos and the president over the fiscal cliff. reports today say obama wants 1.6 trillion in new taxes, two times what republicans were offered last year. is this whole negotiation going nowhere? >> cisco not only surprises the street with a beat but says the u.s. enterprise business is showing signs of improvement. >>> and abercrombie silences the shorts. >> the president is scheduled to meet with a dozen ceos this afternoon to hear their concerns about looming tax increases and spending cuts. 73% of participants in a "wall street journal" ceo council conference said the fiscal cliff is their primary concern. goldman chairman and ceo lloyd blankfein talking about the importance of avoiding the fiscal cliff. he writes there's more than a trillion dollars of cash that is sitting on the balance sheets of u.s. nonfinancial companies with certainty about tax rates, companies will increase their capital expenditures currently at anemic levels contributing to a virtuous cycle of jobs and growth." if there was a disagreement as to whether this is becoming a mainstream story. story of "usa tod
. also on tap, the fiscal cliff. president obama is meeting with business leader at the white house again today. and this comes as we could get word of another change at the top. house minority leader nancy pelosi will announce her future in congress later on this morning. so big news ahead today on the hill. >>> also making headlines this morning, former d.c. council chair kwame brown learns his punishment for bank fraud and a campaign finance violation and he will not be spending time behind bars. >> also ahead, the alleged east coast rapist backs out of an expected guilty plea. we'll have more on that when fox 5 morning news continues. ♪ [ harry umlaut ] hey you know what, i speak european. [ sally umlaut ] european isn't a language. i think they speak all kinds over there. nah. it's basically one language with a few variations. my cousin has a passport. uh-huh. take this fascinating muller yogurt. frut up. means "fruit up." as in creamy yogurt down below. and a delectable, aromatic layer of blended fruity, moussey, uppiness on top. frut up. as the europeans say. in their language. w
continues to unfold. president obama addressed the looming fiscal cliff and many other issues as well as his -- at his first press conference. >> the owner of the specialty pharmacy is refusing to answer questions on that nationwide meningitis outbreak. his pharmacy the new england compound center is blamed for the tainted steroid shots tied to 32 deaths. victims and families are calling on congress to act. >> they deserve every penalty that can be brought against them. it is proven that they're guilty. >> at what these people to know what kind of person [inaudible] because of a lack of concern. >> many in congress want to give the fda oversight of any company that makes drugs in one state but seldom in others. others question why regulators did not act sooner to shut down the compound center. >> alexis simpson is on trial for the murder of dominique frazier. brad bell is at the courthouse and has the latest. >> the jury has now heard from each of the four students that were in the dorm suite and witnessed the struggle. each has maintained that simpson was the aggressor. and she could have w
parties are willing to compromise on a deal to avoid that fiscal cliff. president obama called leaders to start negotiations to deal with the issue. house speaker john boehner said he's willing to compromise on raising some taxes. >> sounds good right? compromise. have we heard that lately? vice president joe biden says the obama administration is willing to compromise as well. the cliff is an across the board tax increase in spending cuts coupled at the same time and that's scheduled to kick in at the end of the year. economists say the impact could push america into another recession. >> the no steps are taken cuttings will cost you some real none. gary nuremberg as more on the sequestration issue. >> reporter: congress couldn't get a deal to cut the deficit. going off the fiscal cliff means crashing into your home. >> if we go over the fiscal cliff, we will increase taxes by $500 billion through 2013. that's an average tax increase of $3,500 for every household in america. >> reporter: then, there is sequestration. months can months ago congress said we'll impose automatic cuts that
-mart, the giants of u.s. business down with president obama to discuss the fiscal cliff. i keep thinking if we got 10 business people in a room we could solve this thing. >> and he has 12 business people in the room. american express, dow chemical, general electric, all different perspectives you got, but some people are pointing out some of the absentee, wall street in particular. essentially saying to continue conversations with wall street executives. especially when it comes to the fiscal cliff, spoke to a few of them on the way in, no concrete answers on what they hope to address with the president. half the participants involved in some way whether it is the child's counsel for a number of different months, while the meeting is underway hopefully see these guys within the next hour or so. a pretty big day, the president giving a news conference opening oup a bit commission encouraged by some of the news that came out of the news conference specifically willing to look at tax reform, a serious look at entitlement and perhaps even discretionary spending cuts. that is not a commitment to that,
president obama on the fiscal crisis threatening our nation. welcome. i and shannon bream and four megyn kelly. shannon: if he and lawmakers cannot reach a deal for the end of the year, not only will there be major spending and budget cuts, but americans will see some $536 billion in additional taxes. effecting ae% of u.s. households. to the tune of $3500 on average per household. we have fox team coverage as we await the president's remark. analysis from bret baier. but first, ed henry is standing by live. what can we expect? >> good afternoon, shannon. the president will announce at the beginning of his remarks that he is inviting congressional leaders to the white house next week. as congress comes back in session. that is to try to jumpstart the conversations about the fiscal cliff. economists are predicting that we could have a double dip recession if the economy gets the double whammy of massive spending cuts kicking in on january 2. and a big tax increases kicking in. the president celebrating in chicago. the sobering reality of governing is setting in here. the president is
crisis. 52 days now until the so-called fiscal cliff. mr. obama and house speaker john boehner laid out their new positions, which sound a lot like their old positions. the president says he will be flexible to a point. >> i refuse to accept any approach that isn't balanced. i am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> the problem with raising tax rates on the wealthiest americans is that more than half of them are small business owners. >> republicans say they won't budge on taxes unless democrats bring to cut the costs of social security and medicare, starting with the raising the minimum ages to qualify. >>> with the showdown looming over whether the police department guess into receivership, oakland is urging a middle ground. ever since 2000 where there was rampant police corruption, the department has been threatened with a federal takeover unless reforms were implemented. now with a december court date, the city is bracing for a possible tak
the scandal involving two u.s. generals and the women they were involved with. >>> president obama will face the media head on regarding petraeus and allen, as well as the nation's fiscal cliff. >>> and a tragic plane crash kills three pilots on their way to an faa safety conference. well, good morning, everyone. i'm lynn berry. and today for the first time we expect to hear from president obama directly as his administration is rocked by scandals involving two of the men he counted on most, former cia director david petraeus and afghan war commander general john allen. well, the newest headlines in the investigation are creating even more of a tangled web. this morning "the wall street journal" reports general allen, who is now under investigation for e-mails between he and jill kelley of tampa, florida, is telling associates that he received an e-mail traced back to paula broadwell, the petraeus biographer accused of sending harassing e-mails to jill kelley. according to "the journal," allen says the broadwell e-mail was written under the pseudonym kelley patrol. it's describing kelley as
trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumption side actually look pretty good. numbers came in at 14.5% growth and that beat expectations. a lot of that was because people are buying more food as well as automobiles. now, the whole picture looks as thou
the reason why it was both a fiscal cliff and obama is this -- let me make this point. the worst-case scenario came out with a narrow victory. republicans keeping the house and guess what isn't democrats picking up a couple of eats in the season, they are emboldened without this mandate. so the republicans may say,ve a. democrats say, you don't have a mandate. you are at loggerheads, that's what the market said on wednesday. >> it was an election selloff. the one thing this the republicans have to get the message out, cutting government spending is good for the economy, it is not bad for the economy. >> exactly. >> if we can get some cut, that will drive up -- [overlapping dialogue] >> we have to -- we have to throald their feet to the fire. that's all we have time for this evening. than
in his public schools. >>> the fiscal cliff, how much room is the left willing to give president obama on entitlement reform? what is the breaking point? on issues like social security and medicare? the president may have found out today when he met with them, labor and progressive leaders. we'll talk to one of the people in that room. fascinating stuff coming up here. >>> yes, people are looking forward to 2016, and the name on everybody's list and lips is hillary clinton. the nomination will be hers if she wants it. who doesn't know that? >>> finally, think we're all coming together after the election? not in texas where 60,000 people have signed a petition to secede from the union. what else is new? one gop official down there even wrote a column asking for an amicable divorce from what he called the maggots who elected president obama. they won't quit. read my lips, by the way, no new texas. that republic's not coming back. this is "hardball," the place for politics. broadway show megapixels place to sleep little roadster war and peace deep sea diving ninja app hipster glasses 5% c
was compromised. and vows not to kay in to republicans over the fiscal cliff. mr. obama says the country can't afford to continue tax cuts if for wealthiest americans and says he won't extend the bush tax cut for the top 2%, as he did two years ago. "special report" from washington starts at 6:00 p.m. eastern. now back to new york and five "the five." ♪ ♪ >> greg: all right. so in the wake of obama's alleged re-election, some citizens are calling for secession. people from all 57 states have filed petitions in favor of seceding from america on the obama administration's we the people website. so far, close to 700,000 signed on and petitions from alabama, florida, georgia, louisiana, north carolina, tennessee, texas grabbed at least 25,000 signatures. now to me, secession is silly. but what is not silly is actual catchtition. why not for four years pit red states against blue states with the respected ideas and have us put to the test and see who succeeds? red states will have fracking. blue will have frats. red states will have free markets. blue will be v fre have free pi. red states, d
%. the memo to heads of executive departments besides the fiscal cliff we have been talking about. president obama's said he will talk about this issue on friday. this year's elections will affect the wedding business. >> planners are bracing for a spike in bookings thanks to voters' approval of same-sex marriage in maryland. we have that story for you at 6. >> from the voting booth to wedding vows. same-sex couples got the right to marry. those who stand to make a profit are hearing a buzz. >> this will -- we will see an uptick. >> gayweddings.com is a resource. since states approved gay marriage, she has seen [inaudible] >> let's learn more and find more resources. >> actual marriages will not be allowed until after general one when the law takes effect. cities are trying to lure couples by creating a new international web site. there were to be an option for those looking to marry now that the law passed. >> that day i got an e-mail from a couple i had married in d.c. to years ago. she is an interfaith minister who performed ceremonies. she said she has witnessed many maryland couples fl
, el presidente obama se refirio a que no quiere dramas para evitar el llamado "precipicio fiscal." presidente obamaestoy abierto al compromiso. estoy abierto a nuevas ideas. tengo el compromiso de resolver nuestros desafios fiscales, pero me niego a aceptar propuestas que no sean balanceadas. pero que es el precipicio fiscal? es el plazo a fin de ano para decidir si se mantienen o no las rebajas de impuestos y evitar recortes prespuestarios al gobierno federal. segun 1 economista, republicanos y democratas deberan ponerse de acuerdo para subir los ingresos del gobierno. de lo contrario. isaac cohen, economistapueden subir los impuestos porque las rebajas programadas por el presidente bush y prorrogadas por el presidente se eliminarian por 1 parte. por otra parte creo que vendria 1 recesion en estados unidos y eso obviamente causaria 1 impacto sobre el empleo. organizaciones conservadoras quieren que se e
threatened to pull long island authority franchise. coming up live from staten island president obama will meet with congressional leaders. trying to avoid a fiscal cliff. we'll look at that and more in a moment. stay with us. . >> fears of the fiscal cliff smacking stocks this week and comes as we fiped out the average balance of a 401 account is record high. what should people do to protect themselves from this? >> doing what i am doing lately. i am putting it percentage wise in cash. more americans are saving because they are scared of what is going to happen. bad for the short-term economy. captital gains and dividends tax is raised it will be bad for the stock market. >> investors will be discouraged from paying in to the stocks especially those with the dividends. >> as stupid as congress is. they have to do something about it and reach across the aisle and eventually find a solution for this. john makes a point about this in the sense that there is it of course in a 401 k your cash does grow without taxes and sooner or later it is taxes. >> the point you are making is good. you
>>> hi, everybody, welcome to "the wall street journal report". what does a second term for obama mean for the economy? i'll talk to advisers and find out if they think we can avoid the fiscal cliff. and how to position your investments, stay safe and find the right sectors in the market. >>> and outspoken banker jamie dimon of jpmorgan chase. too big to fail. "the wall street journal report" begins right now. >> this is america's number-one financial news program. "the wall street journal report." now, maria bartiromo. >> here's what's making news as we head into a new week on wall street. if investors thought we would be getting a certainty bounce after the election, they thought wrong. in fact, president obama's second-term victory was greeted with stocks second worst day of the year. triple digits again thursday, and figures were mixed thursday. the possibility of a u.s. downgrade if america goes over the so-called fiscal cliff. but said it would wait until after budget negotiations. a downgrade, of course, would make it more expensive for the united states to borrow money. >>
. >>> president obama inviting leadership to avert the fiscal cliff of tax increases and spending cuts due to hit in january. mr. obama said he's open to compromise and new ideas. what the president said higher taxes on the wealthiest americans are an essential part of dealing with the nation's deficit. republican house speaker john boehner is pushing for lower tax rates. now, let's fast forward to the weather. doug? >> the weather today, pretty good. not bad at all with plenty of sunshine and temperatures higher than they have been thealist few days and 54 degrees out there right now in washington and notice back to the west, 82 in dallas and 70 in st. louis and 70 in memphis and that's going to be a nice warm up coming our way as temperatures will move close to that 70 degree mark later this weekend. we'll talk about that and what our next storm will bring in just a few minutes. >> all right. >>> living next to a train or bus stop makes it easier to move around our area, but just how well does the public transportation near you connect you to your job. adam live in boston with results from a ne
biographer -- alled affair with his biographer. >> the fiscal cliff countdown, president obama warns congress act or else the united states will see tax hikes, job losses, even a double dip recession. >> new information about a teenager accused of beating and robbing an elderly woman, what helped police track him down and what he told detectives after his arrest. thanks for joining us tonight. i'm shawn yancy. >> i'm will thomas. >>> we begin with david petraeus stepping down in disgrace. >> fox news has learned the cia director resigned after an fbi investigation revealed the retired four star general was having an fair with his biographer. fox 5's maureen umeh has the story. >> paula broadwell wrote general petraeus' biography. initially the fbi thought petraeus may have been a victim but so far there's been no evidence to back up that concern. cia director general david petraeus step down after 14 months on the job offering president obama his resignation on thursday. it was accepted today. general petraeus said in a statement to the cia workforce, "after being married for over 37 years i
here on channel 9 beginning at 1:30 p.m. and president obama will also address the so called fiscal cliff during his news conference. those are the tax hikes and spending cuts scheduled to go in effect on january 1st. the tax policies center estimates the average household faces a tax increase of $3,500 if the white house and congress do not reach an agreement. well the government that she has wholesale inflation fell during the month of october. a big drop and gasoline all set a rise in the cost of food. it's the first decline in whole prices since may. a hearing is under way on capitol hill on the meningitis out break that killed 32 people nationwide. a pharmacy in massachusetts that distributed steroid injections is connected to that deadly out break. house lawmakers say their goal is to figure out who new what and when. the own over the pharmacy, the food and drug administration commissioner will testify. coming up ahead on 9 news now. a solar spectacular captures the attention of millions of stargazers. and also we want to let you know that we have set up a phone bank in order
is the so-called fiscal cliff that could impact thousands. autria godfrey has more on what is in store. >> back in washington, back to reality, president obama returned to d.c. today with another four years, but still battling for bipartisanship as we careen toward the so-called fiscal clef. he is already demanding the two parties make peace. >> he won reelection with a middle-class economic strategy based on the middle class. it is incumbent then, the parties work together to avoid that fiscal issue and light a path for economic growth. >> that is easier said than done. president obama was hoping to kickstart compromise when he called a key congressional leaders including house speaker john boehner. >> what we can do is avert the cliff in a manner that serves as a downpayment on major solutions and actions in 2013 to begin to solve the problem. >> the problem is the massive military cuts and tax hikes that could hit the middle class come january if congress does not come up with a plan. poised to get hit the hardest the d.c. area, where 65,000 government contracting jobs are on the li
loanh >> susie: tomorrow on nbr, congressional leaders and president obama meet face to face on the fiscal cliff. and our friday "market monitor" is making plans for the fiscal cliff. he's jack ablin of harris private bank. and that's "nightly business report" for thursday, november 15. have a great evening, everyone. you, too, tom. >> tom: good night, susie. we'll see you online at nbr.com, and back here tomorrow night. captioning sponsored by wpbt captioned by media access group at wgbh access.wgbh.org >> join us anytime at nbr.com. there, you'll find full episodes of the program, complete show transcripts and all the market stats. ttlso follows us on our faceboop page--izrpt. and o twitttter @bizrpt. @ captioning sponsored by macneil/lehrer productions >> brown: israel stepped up its military offensive in gaza today and hamas rockets targeted tel
. >> you're welcome. melissa: up next, president obama throws down the gauntlet on the fiscal cliff today, promising to veto any ddals not raising taxes on the wealthy. so there. is it all talk and no walk? we're going to find out. >>> plus, full steam ahead for health care reform. some states have a critical decision to make. we're going to explain. "piles of money", lots of taxes, coming up. ♪ can ♪ . melissa: so president obama and house speaker boehner both saying that all our lawmakers need to put their differences aside and work across the aisle to prevent us from falling off the fiscal cliff. i don't know. sounds like a lot of talk to me. remains to be seen whether both sides can really work together and if the partisan bickering will go on and lead us straight over the edge here for more on this one, there you go, that's how much time we have, dennis kelleher, ceo of financial watchdog organization, better markets. what's going happen? >> happy friday, melissa. melissa: yes. >> you know what i think will happen have appearance of lot of partisan bickering just under the surfac
. and president obama throws down a challenge to congress saying the fiscal cliff issue is solvable. and rocket attacks from the gaza strip killed three in israel following the death of three militants in israeli air strikes. the u.n. urges netanyahu to avoid a new cycle of blood shed. dow jones industrial average is 140eing a b inshowing a bit of , add building 35 points. and the nasdaq and s&p also trying to add a couple of points. but the tone overnight there global markets hasn't been entirely supportive. global 300 down about 0.2% and major european bourses are the exception of spain are in the red, as well. spain trying to buck the trend. now let's take a look at budget talks beginning in the u.s. tomorrow between the president and congressional leaders. i caught up with austan goolsbee to ask him how the president plans on tackling the fiscal cliff and what can be done to avoid hitting the debt ceiling come spring. >> i think some variant of the palled approach that's like the one that was in the fiscal commission, the bowles-simpson commission, or there are other bipartisan commissions,
. >> as we said, president obama also addressed the impending fiscal cliff. the president said the economy cannot afford a tax increase on all-americans and called on republicans to support an extension of existing tax rates for householding earning $250,000 or less. >> there are two pathways available. option one, if congress fails to act by the end of this year, everybody's taxes will automatically go up, including the 98% of americans that make less than $250,000 a year. and the 98% of small businesses who earn than less than $250,000 a year. that doesn't make sense. >> the president said the nation's top priority right now has to be jobs and continued growth. and while he says he's open to compromise and new ideas, the president said he will not accept lowering tax rates for the wealthiest americans. >> there was a bizarre and frightening shooting at a wal-mart in maryland. the cops have some unusual clues they are working on even as we speak. >> reporter: this store's overnight shift manager was brought out into this parking lot after a robbery at 4:30 in the morning and shot. >> the
... buenas noches...bienvenidos!!! ... un dia despues de obtener la reeleccion, el presidente barack obama tiene poco tiempo para celebrar el triunfo pues ahora debera enfrentar un problema fiscal inminente, y un congreso dividido, con la camara baja, todavia en control republicano y el senado con mayoria democrata... pero que significa esto para el tema migratorio?... fernando pizarro, nos tiene mas ... el senador democrata electo por virginia, tim kaine, senalo hoy que espera que el partido republicano se mire al espejo y sea mas abierto para trabajar con los democratas, en la busqueda de soluciones para evitar el inminente reto fiscal y reformar las leyes migratorias de la nacion... kaine, derroto con 51 por ciento de los votos, contra 49, al ex senador republicano george allen... kaine, dijo que los republicanos no deben seguir siendo tan duros con los votante latinos, y que es importante construir puentes para buscar soluciones conjuntas en el 2013... la participacion de los latinos se hizo presente en las urnas, pero esto que significa para temas que son importantes para nuestra com
can come to some sort of agreement. in his first public speech post- election how president obama addressed the "fiscal cliff" crisis. >> and facing such a severe gas shortage, how drivers in new york city are being forced to follow an odd new rule. ,,,,,,,,,,,,,,,,,,,,,, of the c-i-a. tonigh >>> and now at 6:30, he led military campaigns in iraq and afghanistan and became head of the cia. tonight, general david petraeus steps down after admitting to having an affair. petraeus called his behavior unacceptable as the leader of the spy agency. cbs reporter tara mergener in washington where the resignation has shocked the intelligence community as well as top political leaders. tara. >> reporter: indeed. good evening, allen. yes, petraeus' resignation absolutely came as a shock here in washington ending the long career of a well respected and very high-profile public servant. cia director david petraeus submitted a letter of resignation to president obama admitting he had an extramarital affair. the president accepted his resignation. petraeus who has been married for 37 years says h
fiscal cliff that might lead to recession, now inexplicably president obama appears to be calling for a humongous $1.6 trillion tax hike. i don't get it. no one, by the way, is talking about spending cuts. let's go to our friend. the j. rogers, the great ceo of cyprus semiconductor. thank you for your time. it's like a circus, like a spectacle in washington. the government is too big, spends too much. and the president called for a $1.5 trillion tax hike over the next two year. stock market is getting pummeled. what do you make of all this? >> well, i'm 64. so i've seen the circus show before. there was a quote i liked during the carter administration which is, where else would you send a clown but to a circus? the clowns are acting like clowns and they're doing destructive things. i hope we don't have a lock-up. i remember the last time that happened, it was a republican side thing where newt gingrich engineered a shutdown of the government. i personally thought it was kind of interesting because my life was unchanged when millions of non-essential government employees got laid o
of the fiscal cliff. both president obama and house speaker john boehner today came out warning the consequences of not reaching a deal would be devastating to the u.s. economy but they don't have a lot of time here. >> no, they don't. the president spoke on this today, not mentioning what was going on behind the scenes with the cia. consider the timeline here. there are only 53 days now left for congress to get to work and get this deal done in order to raise the debt ceiling this year congress put this countdown clock in effect and it has now unt january 1 to get it done. if nothing gets done, your payroll taxes could go up. the bush era income tax cuts would end and 449,000 defense industry jobs across virginia, maryland and d.c. could face layoffs if these automatic pentagon cuts are allowed to go forward. at the white house this afternoon the president spoke in front of what the administration called average americans. those special era tax cuts would expire. add to that deep spending cuts that will kick in. all of this has economists warning tonight of a double dip recession and possible
? remember the 2012 election? done! next. now it's time to tackle the fiscal cliff, unless president obama and the republicans make some sort of deal. both sides first need to feel the political love. they're already flirting. >> tonight, you voted for action, not politics as usual. you elected us to focus on your jobs, not ours. in the coming weeks and moths, i am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together. >> the american people have spoken. they've re-elected president obama and they've again re-elected a republican majority in the house of representatives. there's a mandate in yesterday's results it's a mandate for us to find a way to work together on the solutions to the challenges that we all face as a nation. >> oh, but political love is fleeting between democrats and republicans. although partisan bromance is possible. remember ronald and tip back when reeboks and stone washed jeans were hip? why not john and barack? they had a golf beer summit. that is, they played 18 holes and had a beer. can you say
of the travel problems that would create. >>> now, to the fiscal storm. today president obama and republican house speaker john boehner both laid out ideas to avert the so-called fiscal cliff. tax increases and spending cuts are due to hit in january, but today it seemed the two leaders and the bipartisan deal are still worlds apart. steve handelsman is on capitol hill with more on that. steve? >> you got it right. this is a restart of a high-stakes negotiation between those two men. the president and the speaker. the problem is beginning today where they left off, which is far apart. in a speech at the white house, president obama claimed the election proved most americans agree with his plan. that he calls balanced. cutting spending and hiking taxes to avoid the fiscal cliff. he said he's flexible -- >> but i refuse to accept any approach that isn't balanced. i am not going to ask students and seniors and middle class families to pay down the entire deficit while people like me making over $250,000 aren't asked to pay a dime more in taxes. >> reporter: he's calling in members of congress f
over the the fiscal cliff. as president obama goaded congress today to make him ake up his offer on higher taxes. a wave of new protests swept through europe. governments have already failed their people. that is the choice we face tonight. either our elected officials bring order to our economy, or there wouldn't be any economy to worry about. as the president spoke today, the markets took a dive down 185 points. the dow jones is down nearly 700 points in the last six trading days since president obama was reelected. the nasdaq in a correction of nearly two thirds of the market also and correction teitory. it down more than 10% from recent highs. the markets seem to think that we have had over the fiscal cliff. what did people haveo say to have the pow to stop it? let's ask republican congressman tim huelskamp. welcome to the show, congressman. we definitely want to talk to you about the president's speech today. he said he is ready for compromise. here is the president. >> i am open to compromise and i'm open to new ideas. i have been encouraged over the past week your republic
? >>> plus, guess who's going to get the lions share of the blame if the country goes off the fiscal cliff. here's a hint for you. it isn't president obama. you are watching "early today." recalled for steering problems. >>> welcome back. stories making news this morning. a knew pew research center poll finds that republicans in congress will be more to blame if the u.s. goes off the fiscal cliff. 53% of those surveyed point the finger at the gop while 29% say president obama would be more to blame. >>> 20-year-old mitchell kusick of colorado has been charged with threatening to kill president obama during an october campaign event. kusick also made credible threats towards shooting and killing children at a halloween event. >>> defense secretary leon panetta has demoted the former head of the u.s. africa command general william kip ward for allegedly spending thousands of dollars on lavish travel and other travels. he will retire as a three star general and repay the government $82,000. >>> a man who made an ak cuization has now recanted his story. he says their sexual relationship was ad
having the nation go over the fiscal cliff. today president obama will meet with top american ceos to get their thoughts. on tuesday, labor leaders went to the white house to talk about the fiscal cliff. >> we are committed to preserving the tax breaks for the middle class. and making sure that's rich people pay their fair share. >> if things do not change, scott will expire for middle income americans in january. the tax policy center says they face a tax increase of $3,500. >> thinking this refund may not be a possibility for those who do use that money at the end of the year to take your big expenses, that would be top. >> democrats want higher taxes on the wealthy, and to keep tax breaks for the middle class. a new poll shows many americans think lawmakers are too far apart. they think congress will not reach a deal. i am martha reporitng. >> paul ryan speaking about the results of the election. he says he was optimistic until the end. court's we thought we had a very good chance of winning. the polling and the data and all of the smart people who watch this stuff, they had a pretty o
, president obama said during the campaign, the fiscal cliff was not going to happen. today, he makes his first post- election speech from the white house to outline how he plans to avoid it. the president has been back at the white house for just one full day. but on that day -- but on that day, the officials say the fiscal cliff and tax increases would push the economy into another recession and cause a jump in unemployment. on the campaign trail, the president made clear, he wants a deal with congress that includes tax reforms and new incentives for businesses that keep jobs in the united states. but he also wants tax increases on wealthier americans and republicans are consistently saying that's something something they are not going to -- that's something they are not going to consider. reporting live from alison burns, ktvu channel 2 news. >>> ktvu will bring you the president's speech this morning live right here on channel 2. again it's scheduled to begin at 10:05 this morning. we'll also live stream the president's speech on our channel 2 website, cute -- ktvu.com. >>> back here
friends with general david petraeus for years and they are asking for privacy. >>> president barack obama is inviting labor and communities for talks on averting the fiscal cliff. the president will meet and then on thursday will meet with business leaders. they are pulling consensus on the best ways to avoid this fiscal nightmare with some cuts ready to take affect at the end of the year. democratic senator charles schumer and he and others will start talks on the come leans sufficient -- comprehensive works and they believe this time around they will be successful because being anti- immigrant does not work for them politically. >>> and president barack obama does not work to visit and see the damage from super storm sandy. the president will thank first responders who put their lives at risk and secretary of homeland security janet napolitano is working on things, 100,000 homes are still without power two weeks now after the storm hit. >>> it is veterans day and a lot of people still have the day off, it is light. >> it takes a little bit to have a few people. >> schools are out, so th
an extra marital affair. >>> president obama took a strong stand on taxes for the rich, but could set the stage for a showdown on how to avoid that fiscal cliff. >>> a community in prince george's county but years later they still don't have much more than empty fields and a pile of dirt. good evening, i'm jim. >>> now the process is under way to find a permanent replacement. chris k clackm has the latest. >> reporter: david petraeus who took over at the cia in 2011 wrote "after being married for over 37 years, i showed extremely poor judgment by engaging in an extra marital affair. both behavior is unassessmentable as a husband an as the leader of an organization such as ours." petraeus resigns just days after his boss won re-election and president obama accepted it saying about petraeus and his wife, holly, i wish them the very best at this difficult time. >> it's a lite bit too soon to tell today because of how sudden this was. but for lack of a better term, petraeus is a legend one of the few generals to get so much credit for so many things. >> reporter: scheduled to testify at h
barack obama going into the fiscal cliff, everything else, instead of winning with 52% of the vote he won with 51, 50%, whatever. they forced the seiu and other groups to spend tens and hundreds of millions of dollars, too and it what's disproportionate about it, it was a couple of what i call venting billionaires, billionaires, you can call them, able to get everybody else to go crazy, spend money, and i do think, you know, in ohio, sherrod brown had to find an extra $20 million. what could have been done with time and opportunity? >> and money. how it could have better been spent. >> there's an impact here in opportunity comer costs. they had an impact and they tilted the playing feel. and on that tilted playing field obama and the democrats still won. >> what happens next. your argument reminds me of the republican argument in favor of cutting taxes to spur economic growth. david had a great chart, as you cut taxes, the gdp shrinks. there's no evidence thus far. but the -- >> they've been doing that for a year. >> my two sources. my two sources on this. the chart. but the argument on t
of the shooter or the get away car. >>> president obama addressed the so called fiscal cliff today in his first public comment since election night. he said that he is open to compromise but as nicole collins reports he also laid down one major condition. >> i refuse to accept any approach that isn't balanced. >> reporter: president obama drawing a line on the sand saying any agreement on deficit reduction must include tax increases on the wealthy. >> we have to combine -- i'm open to compromise. i'm open to new ideas. >> reporter: house speaker john boehner reiterating his plan. the speaker saying he's unwilling to raise taxes but is open to new revenue by eliminating some tax deductions and loopholes. >> by lowering rates and cleaning up the tax code we know we're going to get more economic growth. it'll bring jobs back to america. it'll bring more revenue. >> reporter: with their starting points for negotiations defined both parties agree a deal must be reached or the economy will fall back into recession. >> i was encouraged to hear speaker boehner agree that tax and revenue is a priority.
. >> switching gears. days after reelection and talk of common ground with the gop to avoid the fiscal cliff. president obama isad odds with speaker boehner. am they be stuck in the same preelection grid lock. joining us is senior advisor to senator harry reed reed. and spokes man for boehner. welcome and glad to center you on board. start off with the situation with the president speaking out and saying as far as he is concerned wealthy americans will pay higher taxes and that ended with his reelection and he believes that voters validated his effort to make it happen. speaker boehner said raising taxes are unacceptable. >> you are seeing the classic positions and everybody wants to make sure they speak for their constitients. and they want to make they are addressing the concerns. what we will see next week a call for the president for the leadership to go down to the white house. there is not that much time. we have a fiscal looming cliff at the end of the year. hopefully we can get both sides to come to the right. >> it is important for the president to not be intransient. the stock mark
to go skiing off the cliff. >> no, it's not. >> everybody is looking at the fiscal cliff. wall street hoping lawmakers can agree on some sort of budget deal so they can avoid the fiscal cliff. president obama said he will veto any bill for tax cuts for anyone making more than $200,000. tax heights for nearly every american will go into effect on january 1 if no deal is reached. some deductions including the child tax credit will either be slashed or abolished. checking the numbers the dow rose four points on friday, really a measly gain after a terrible week. the nasdaq was up by nine and the s&p 500 was up by just two points. today eu finance ministers will meet to discuss the greek finance problem. parliament pass add new budget in hopes of big much needed international aid while keeping the financially troubled nation on the eu currency system. >>> federal reserve chairman ben bernanke is scheduled to give a speech in atlanta, the first public appearance since the presidential election. wall street will be listening to any comments over the stalemate over the fiscal cliff. >>> lock
reacting to a second obama presidency. but there were also concerns over europe and the fiscal cliff and the fact that now you have this election out of the way, you still have the very big problems still facing us. debt crisis, markets started to turn yesterday when mario drogy made some comments about concerns about germany. so this wasn't just a u.s. story overall. you put these things altogether and it all ended up at 313 point decline for the dow. also concerns about the debt ceiling. we're coming up again on the debt ceiling. remember the debt ceiling is what got us into this fiscal cliff mess in the first place. there will be a fight over how to raise the debt krelgment or that could be wrapped up in how they fix the fiscal cliff. all of these things -- i want to remind you, the last time the president was elected, the stock market tumbled sharply, worse than this for two days in a row. but that time four years ago, the whole world was falling apart. we were in the midst of a financial crisis. this time 300 points. futures are flat this morning. at least at this hour doesn't l
in his position through president obama's inauguration next year to help with fiscal cliff negotiations. but geithner has said he will not stick around for the rest of the president's second term. treasury secretary is a demanding job and a key assignment in the upcoming negotiations over tax reform and budget cuts. darren gersh details the likely candidates for treasury secretary. >> reporter: jack lew is the name most-mentioned to replace tim geithner at treasury and he is by far considered the man to beat. lew was twice head of the office of management and budget and he's now the president's chief of staff. >> he is an incredibly hard worker. he is very bright. he has a very deep experience base. he is extremely honest. if you are negotiating with him, you will get nothing but the truth and you can take that to the bank. all those things, you put them together it's not the most common package in washington. >> reporter: republicans are wary of lew, believing he bested them in budget negotiations last year. but the president trusts him and his pick would be a sign of just how importan
obama began a series of meetings on the fiscal cliff today starting with a meeting with labor leaders. they say they are united with the president's proposal to raise taxes on the wealthiest americans while preserving middle-class tax cuts. the president meets with a dozen ceos tomorrow and then the four top congressional leaders on friday. >>> the scandalous downfall of david petraeus has now widened to another high-ranking official. the top u.s. commander in afghanistan, general john allen, is under investigation now for possible inappropriate communication with jill kelley. she's also linked to the petraeus sex scandal. the fbi says that 20,000 to 30,000 pages of e-mails are under review. allen's nomination to head is now on hold. however, a pentagon spokesperson says he will remained in -- remain in afghanistan for now. >> the secretary has asked the president and the president has agreed to put his nomination on hold until the relevant facts are determined. >> kelley claims she received threatening e-mails from general petraeus' mistress, paula broadwell, which triggered this inv
americans. members of congress plan to meet at the white house with president obama about fiscal issues. on how members of congress and how the president could approach the so-called fiscal cliff with tax breaks and spending cuts. they hosted senators. [no audio] >> majority leader compared the job to being a grounds keeper in a cemetery. there's a lot of people under you, but they are not paying attention. >> that's true. [laughter] and then from the democratic side, we have a former budget committee chairman, senator gym sasser, please, come up and join us. [applause] hi. [applause] if there is one job in the senate that's worse than majority leader, it's being the budget committee chairman, but senator deserves credit for the -- partial credit for the 1990 budget deal which was really -- sit right here -- which was really an extraordinary -- probably the one deal in recent decades with a significant impact on the deficit, and then we have senator joe lieberman, please, come up. [applause] senator lieberman has the distinction of being the only person in the country who was invited to
president obama will meet with business leader at the white house to discuss the looming fiscal cliff. the ceos of a dozen major companies will attend. among them the heads of ibm, ge, ford and walmart and this follows the president's meeting yesterday with labor leaders and comes ahead of his meeting with congressional leaders on friday. joining me now congress many woman maxine waters. fiscal cliff was coined in the hearing last winter. congresswoman, great to have you here. white house press secretary jay carney said that president obama plans to open negotiations by calling for 1$1.6 trillion in additional tax revenue, far more than republicans are open to, willing to accept and double the amount that speaker boehner offered the president during the debt negotiations last year. also during these closed door meetings yesterday with labor leaders, the president reportedly vowed that he would, quote, not budge when it comes to letting the bush tax cuts expire for the country's highest earners. do you think, though, with all that being said that there will be a compromise to be made?
are united in leading the country longterm. >>> president obama defending his ambassador on the comments she made about benghazi. >> the first news conference since being re-elected, president obama touched on the fiscal cliff and global warming and petraeus scandal. john mccain and lindsay graham accused rice of misleading the american people about the u.s. consulate attack in libya that killed four american diplomats and demanding a watergate style hearing. they said they would block rice's nomination if promoted to a cabinet position. president obama not only gave her the highest praise but came to her defense. >> if senator mccain and graham and others want to go after somebody, they should go after me. but for them to go after the u.n. ambassador, who had nothing to do with benghazi and was simply making a presentation based on intelligence she received and the besmirch her reputation, outrage out. >> mr. graham said, mr. president, don't think for one minute i don't hold you ultimately responsible for ben gazdy. i think you failed as the president before and after the attack. president
think that you will also hear some questions about the fiscal cliff, we expect president obama's sort of opening offer to congress to be $1.6 trillion in new revenues including increasing taxes on wealthy americans and larger corporations. having said that, thomas, i think that the overwhelming majority, i shouldn't say the majority but he'll get a lot of questions about the petraeus situation. >> a lot of people watching this today. kristen, thanks so much. you can watch the news conference live right here on msnbc 1:30. >>> i want to bring in our panel. we have ruth marcus, columnist for "the washington post," keith boykin, cnbc contributor and hogan bidly who served as communications director for rick santorum's presidential campaign. great to have you here and ruth, petraeus now testifying or will be testifying on capitol hill. does this bring it all back to the original story and the attention and focus where it needs to be about what happened in benghazi, the loss of four american diplomats and away from this salacious sexual scandal. >> i think you answered your own question. i
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